Developments > Prang Estates
Prang Estates: Rehabilitation of 2 buildings into a 33-unit low income rental housing complex in Roxbury. Developed by Cruz Development Corp. All of the units will be affordable to families earning less than 60% of median income. Loan amount: $1,199,368. Equity investment: $2,340,000. Closing expected November 1992. Two buildings in Roxbury were rehabilitated, and a new wing was added to one building. The project was completed and occupied in 1994.
Prang Estates
Project at a Glance:
Location:
Boston
Development Type:
Rental
MHIC Financing:
$1,199,368 in debt financing, $2,365,000 in LIHTC financing
Sponsor:
Cruz Development Company
Number of Units:
33
Prang Estates: Rehabilitation of 2 buildings into a 33-unit low income rental housing complex in Roxbury. Developed by Cruz Development Corp. All of the units will be affordable to families earning less than 60% of median income. Loan amount: $1,199,368. Equity investment: $2,340,000. Closing expected November 1992. Two buildings in Roxbury were rehabilitated, and a new wing was added to one building. The project was completed and occupied in 1994.